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Money Guy Show

IRS Changes the Government Does NOT Want You to Know About!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.73.1K Ratings

🗓️ 16 November 2022

⏱️ 30 minutes

🧾️ Download transcript

Summary

The IRS just announced some BIG inflation adjustments for 2023 - which could allow you to save even more for retirement, receive larger tax credits, and more income from Social Security! Check out our NEW course, Know Your Number! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Big RS changes that you can use to grow your wealth.

0:04.4

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:11.3

investing, taxes. You've got financial questions, he's got financial answers. It's Brian Preston,

0:18.4

the money guy.

0:20.2

Brunt, I am so excited about this show because there's two things that we love. One of them is

0:25.6

helping people figure out how to build wealth, how to grow their army of dollar bills. The second one

0:31.0

is saving money on taxes. I feel like what we're going to talk about today is going to combine

0:34.9

both of those two things.

0:36.2

I think it's interesting. Go back a few years, 2017, big debate in Washington over tax policy.

0:44.7

Big tax cuts came out and it was, look, it's divisive.

0:49.2

Sure. Because some people get upset, some people are excited about it because it delves into

0:54.0

that whole political arena. But I find interesting about these inflation adjustments because

0:59.3

huge changes and we're going to share it all with you today. There's no fighting, there's no

1:04.6

battling. It's just now you're going to be able to do more with the contribution. Now, look,

1:10.5

there's a bad side to this. Inflation is horrible. I want to make sure I remind everyone

1:17.5

that inflation, if you're not letting your money work for you, it actually can work against you

1:23.3

on what your purchasing power is being diminished with every dollar that you hold if you're not careful.

1:28.0

But in the mean top, we had to at least talk about some of these big changes because people,

1:33.2

I already heard people debating clickbait versus clickable. Yeah, sure. Sure.

1:38.0

Sure. And when we said the government doesn't want you to know about this, there's a reason for

1:43.2

this, guys, because if you're not proactive with your finances and your decisions on some of these

1:48.1

key accounts, the government is going to be very happy if you just let the status quo happen to you.

...

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